18th April 2025, Kathmandu
Dr. Gunakar Bhatta has resigned from his role as Executive Director of Nepal Rastra Bank. He submitted his resignation on Friday morning after receiving strong signals from political leaders about his appointment as the next Governor.
Dr. Gunakar Bhatta Resigns
Earlier this week, top political leaders from the Nepali Congress and the CPN-UML reached a deal. They agreed to allocate the central bank’s leadership to the Nepali Congress. Soon after, NC President Sher Bahadur Deuba met Dr. Bhatta and hinted at the party’s support for his nomination.
Legal Clarity Prompted Resignation
There is no legal requirement for an executive director to resign before becoming Governor. However, Dr. Bhatta decided to resign voluntarily. He wanted to avoid legal uncertainty and ensure a clean transition. His move is seen as a step toward maintaining institutional integrity.
Cabinet Decision Likely Soon
Now that he has resigned, the cabinet is expected to move quickly. A recommendation committee will shortlist three candidates for the Governor’s post. The Council of Ministers will appoint one of them. Dr. Bhatta remains the top contender.
This resignation also aligns with the internal agreement among coalition partners. With the Governor’s seat going to the Nepali Congress, Bhatta’s chances have strengthened.
Other Names in the Race
Within the Nepali Congress, another name—Gyanendra Dhungana—was also being discussed. But Dr. Bhatta’s early resignation and established reputation gave him a clear lead.
Insiders say that his move has been well-received both inside the party and in the financial community.
Crisis Demands Strong Leadership
Nepal’s economy is facing several challenges. Inflation, liquidity issues, and post-COVID recovery remain top concerns. The next Governor will play a key role in addressing these problems.
Dr. Bhatta brings decades of experience in monetary policy, banking supervision, and macroeconomic management. His leadership is expected to bring stability and focus to the central bank’s agenda.
What Comes Next
The recommendation committee is likely to meet soon. It will forward three names to the cabinet. The final appointment will follow shortly afterward. Most signs now point toward Dr. Bhatta as the next Governor.
If appointed, he will begin a five-year term at a time when the economy needs expert guidance. His clean image, strong credentials, and early resignation have placed him in a strong position.
Conclusion
Dr. Gunakar Bhatta’s resignation marks a turning point in Nepal Rastra Bank’s leadership transition. It reflects both political consensus and a personal commitment to transparency. The government is now expected to finalize the appointment and move ahead with economic policy under new leadership.
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